The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
As part of a three-year strategic plan to focus its four largest brands — Old Navy, Gap, Banana Republic and Athleta — Gap Inc. said it will sell its children’s business to investment firm Go Global Retail on Thursday.
Gap bought Janie and Jack in 2019 for $35 million from Gymboree Group Inc. It has a web business and counts 115 stores in the US. Terms of the deal were not disclosed.
In March, Gap Inc said it was reviewing Intermix, a multi-brand retailer and contemporary fashion, and recorded a $56 million impairment chart for the business. Last year, Gap Inc shut down another smaller sub-label, the men’s athletic brand Hill City. The company also said it is reviewing its European business, which represents 2 percent of total sales.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.